JAKARTA. Bank Tabungan Negara (BTN), the biggest mortgage provider in Indonesia, plans to launch a specialized mortgage product for foreigners this year, after the government relaxed regulations on foreigners owning property. The state-owned bank will kick off a limited mortgage program for foreign clients looking to buy apartments. Currently, the bank is studying the loan requirements for serving foreign clients. "We have the chance to provide mortgages for foreigners. We expect the product to be launched this year," BTN retail funding and distribution director Sis Apik Wijayanto told thejakartapost.com on Monday.
BTN eyes mortgages for foreigners
JAKARTA. Bank Tabungan Negara (BTN), the biggest mortgage provider in Indonesia, plans to launch a specialized mortgage product for foreigners this year, after the government relaxed regulations on foreigners owning property. The state-owned bank will kick off a limited mortgage program for foreign clients looking to buy apartments. Currently, the bank is studying the loan requirements for serving foreign clients. "We have the chance to provide mortgages for foreigners. We expect the product to be launched this year," BTN retail funding and distribution director Sis Apik Wijayanto told thejakartapost.com on Monday.